Idex: Q1 Earnings Snapshot
NORTHBROOK, Ill. (AP) _ IDEX Corp. (IEX) on Tuesday reported first-quarter profit of $112.7 million.
On a per-share basis, the Northbrook, Illinois-based company said it had profit of $1.48. Earnings, adjusted for one-time gains and costs, were $1.51 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.
The maker of the Jaws of Life device and other engineered products posted revenue of $652 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $636.3 million.
For the current quarter ending in July, Idex expects its per-share earnings to range from $1.60 to $1.63.
The company expects full-year earnings in the range of $6.05 to $6.20 per share.
Idex shares have increased 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $226.19, a rise of 45% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IEX at https://www.zacks.com/ap/IEX